XML 131 R55.htm IDEA: XBRL DOCUMENT v3.20.1
Segment reporting - Business segments (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Disclosure of operating segments [line items]      
Total segment revenue $ 9,716 $ 10,059 [1] $ 9,945 [1]
Gross profit 1,981 1,973 [1] 2,205 [1]
Operating expenses and net other income (expenses) (1,158) (1,176) (1,029)
Profit from operating activities 823 797 [1] 1,176 [1]
Financial income 145 41 [1] 49 [1]
Financial expenses (651) (865) [1] (739) [1]
Profit (loss) from continuing operations before income tax 317 (27) [1] 486 [1]
Income tax (expense) benefit (134) (2) [1] (65) [1]
Profit (loss) from continuing operations 183 (29) [1] 421 [1]
Depreciation and amortization from continuing operations 698 615 628
Earnings before interest, tax, depreciation and amortization (“EBITDA”) from continuing operations 1,521 1,412 1,804
Included in EBITDA:      
Asset impairment charges, net of reversals 101 240 44
(Gain) loss on sale or disposal of businesses and non-current assets 30 (8)  
Non-cash pension expense, net of settlement gain 58 56 58
Operational process engineering-related consultancy costs 29 14 15
Related party management fee 27 27 29
Restructuring costs, net of reversals 21 14 21
Strategic review costs 40    
Unrealized (gain) loss on derivatives (13) 22 (1)
Other 11 (6) 11
Adjusted EBITDA from continuing operations 1,825 1,771 1,981
Segment assets as of December 31, 2019 (excluding intercompany balances) 16,257 16,178  
Included in segment assets are:      
Additions to property, plant and equipment 602    
Additions other than through business combinations 721 565  
Additions to intangible assets 58 22  
Segment liabilities as of December 31, 2019 (excluding intercompany balances) 14,280 14,552  
Reynolds Consumer Products      
Disclosure of operating segments [line items]      
Total segment revenue 3,032 3,144 2,959
Pactiv Foodservice      
Disclosure of operating segments [line items]      
Total segment revenue 3,717 3,778 3,729
Graham Packaging      
Disclosure of operating segments [line items]      
Total segment revenue 1,924 2,087 2,147
Evergreen      
Disclosure of operating segments [line items]      
Total segment revenue 1,606 1,603 1,562
Business segments      
Disclosure of operating segments [line items]      
Total segment revenue 153 221 306
Business segments | Reynolds Consumer Products      
Disclosure of operating segments [line items]      
Total segment revenue 2,881 2,980 2,807
Gross profit 867 849 853
Operating expenses and net other income (expenses) (315) (289) (283)
Profit from operating activities 552 560 570
Depreciation and amortization from continuing operations 99 83 86
Earnings before interest, tax, depreciation and amortization (“EBITDA”) from continuing operations 651 643 656
Included in EBITDA:      
Asset impairment charges, net of reversals 0 0 0
(Gain) loss on sale or disposal of businesses and non-current assets 0 0  
Non-cash pension expense, net of settlement gain 0 0 0
Operational process engineering-related consultancy costs 2 0 3
Related party management fee 0 0 0
Restructuring costs, net of reversals 0 0 5
Strategic review costs 33    
Unrealized (gain) loss on derivatives (9) 14 (4)
Other 0 (5) 0
Adjusted EBITDA from continuing operations 677 652 660
Segment assets as of December 31, 2019 (excluding intercompany balances) 4,424 4,108  
Included in segment assets are:      
Additions to property, plant and equipment 102    
Additions other than through business combinations   82  
Additions to intangible assets 11 1  
Segment liabilities as of December 31, 2019 (excluding intercompany balances) 807 593  
Business segments | Pactiv Foodservice      
Disclosure of operating segments [line items]      
Total segment revenue 3,275 3,267 3,237
Gross profit 639 606 721
Operating expenses and net other income (expenses) (316) (293) (319)
Profit from operating activities 323 313 402
Depreciation and amortization from continuing operations 247 204 205
Earnings before interest, tax, depreciation and amortization (“EBITDA”) from continuing operations 570 517 607
Included in EBITDA:      
Asset impairment charges, net of reversals 2 7 36
(Gain) loss on sale or disposal of businesses and non-current assets 20 23  
Non-cash pension expense, net of settlement gain 0 0 0
Operational process engineering-related consultancy costs 26 14 12
Related party management fee 0 0 0
Restructuring costs, net of reversals 1 2 8
Strategic review costs 0    
Unrealized (gain) loss on derivatives (4) 6 2
Other 4 0 12
Adjusted EBITDA from continuing operations 619 569 677
Segment assets as of December 31, 2019 (excluding intercompany balances) 4,891 4,702  
Included in segment assets are:      
Additions to property, plant and equipment 200    
Additions other than through business combinations   243  
Additions to intangible assets 37 16  
Segment liabilities as of December 31, 2019 (excluding intercompany balances) 1,144 880  
Business segments | Graham Packaging      
Disclosure of operating segments [line items]      
Total segment revenue 1,924 2,087 2,147
Gross profit 259 265 323
Operating expenses and net other income (expenses) (214) (404) (188)
Profit from operating activities 45 (139) 135
Depreciation and amortization from continuing operations 270 253 257
Earnings before interest, tax, depreciation and amortization (“EBITDA”) from continuing operations 315 114 392
Included in EBITDA:      
Asset impairment charges, net of reversals 33 229 7
(Gain) loss on sale or disposal of businesses and non-current assets 0 0  
Non-cash pension expense, net of settlement gain 0 0 0
Operational process engineering-related consultancy costs 0 0 0
Related party management fee 0 0 0
Restructuring costs, net of reversals 17 7 4
Strategic review costs 0    
Unrealized (gain) loss on derivatives 0 0 0
Other 5 (1) (6)
Adjusted EBITDA from continuing operations 370 349 397
Segment assets as of December 31, 2019 (excluding intercompany balances) 3,888 3,958  
Included in segment assets are:      
Additions to property, plant and equipment 172    
Additions other than through business combinations   130  
Additions to intangible assets 6 2  
Segment liabilities as of December 31, 2019 (excluding intercompany balances) 805 705  
Business segments | Evergreen      
Disclosure of operating segments [line items]      
Total segment revenue 1,483 1,504 1,448
Gross profit 204 233 276
Operating expenses and net other income (expenses) (80) (65) (79)
Profit from operating activities 124 168 197
Depreciation and amortization from continuing operations 71 63 59
Earnings before interest, tax, depreciation and amortization (“EBITDA”) from continuing operations 195 231 256
Included in EBITDA:      
Asset impairment charges, net of reversals 0 0 0
(Gain) loss on sale or disposal of businesses and non-current assets 0 0  
Non-cash pension expense, net of settlement gain 0 0 0
Operational process engineering-related consultancy costs 1 0 0
Related party management fee 0 0 0
Restructuring costs, net of reversals 0 0 2
Strategic review costs 0    
Unrealized (gain) loss on derivatives 0 2 1
Other 5 (3) (1)
Adjusted EBITDA from continuing operations 201 230 258
Segment assets as of December 31, 2019 (excluding intercompany balances) 1,246 1,129  
Included in segment assets are:      
Additions to property, plant and equipment 90    
Additions other than through business combinations   65  
Additions to intangible assets 1 0  
Segment liabilities as of December 31, 2019 (excluding intercompany balances) 434 371  
Total inter-segment revenue      
Disclosure of operating segments [line items]      
Total segment revenue (716) (774) (758)
Total inter-segment revenue | Reynolds Consumer Products      
Disclosure of operating segments [line items]      
Total segment revenue 151 164 152
Total inter-segment revenue | Pactiv Foodservice      
Disclosure of operating segments [line items]      
Total segment revenue 442 511 492
Total inter-segment revenue | Graham Packaging      
Disclosure of operating segments [line items]      
Total segment revenue 0 0 0
Total inter-segment revenue | Evergreen      
Disclosure of operating segments [line items]      
Total segment revenue 123 99 114
Other /Unallocated      
Disclosure of operating segments [line items]      
Total segment revenue (563) (553) (452)
Gross profit 12 20 32
Operating expenses and net other income (expenses) (233) (125) (160)
Profit from operating activities (221) (105) (128)
Depreciation and amortization from continuing operations 11 12 21
Earnings before interest, tax, depreciation and amortization (“EBITDA”) from continuing operations (210) (93) (107)
Included in EBITDA:      
Asset impairment charges, net of reversals 66 4 1
(Gain) loss on sale or disposal of businesses and non-current assets 10 (31)  
Non-cash pension expense, net of settlement gain 58 56 58
Operational process engineering-related consultancy costs 0 0 0
Related party management fee 27 27 29
Restructuring costs, net of reversals 3 5 2
Strategic review costs 7    
Unrealized (gain) loss on derivatives 0 0 0
Other (3) 3 6
Adjusted EBITDA from continuing operations (42) (29) $ (11)
Segment assets as of December 31, 2019 (excluding intercompany balances) 1,808 2,281  
Included in segment assets are:      
Additions to property, plant and equipment 38    
Additions other than through business combinations   45  
Additions to intangible assets 3 3  
Segment liabilities as of December 31, 2019 (excluding intercompany balances) $ 11,090 $ 12,003  
[1] The information presented has been revised to reflect the presentation of certain businesses as discontinued operations. Refer to notes 2.6 and 7 for additional information.